The Golden Rule is an ages-old part of this conversation because it helps people confront this common bias. Imagine your situations are reversed, how would you want things done? Do that.
* Good at a first approximation for directing your own agency (conscientious effort definitely improves chances of success, there are few reasons not to engage it other than "your ladder is on the wrong wall" situations).
* Much poorer as a general model of the world, especially one that should be socialized.
It does not mean that your assessment of others' situations is wrong, it may mean your assessment of your situation is wrong (and your assessment that others made bad choices is right).
Otherwise, the Golden Rule is great, except for FAE being a good example of how it isn't particularly applicable in practice.